visimoney
TLDR: A recent survey conducted by Vestwell highlights the growing demand for financial wellness benefits in the workplace. The report, which surveyed over 1,200 employees, found that workers are increasingly looking for their employers to provide support and resources to help with saving for retirement and managing student debt. The survey also revealed shifting savings habits among workers, with many prioritizing emergency savings over long-term retirement savings. The overwhelming majority of respondents expressed a desire for access to financial advisors to help them navigate these challenges. This data suggests that financial wellness benefits are becoming a “must-have” work perk in order to attract and retain talent.
The report also found:
- 67% of respondents prioritize building an emergency fund over saving for retirement
- 34% of respondents have student loan debt, and 58% of those with debt are worried about their ability to pay it off
- 64% of respondents would like access to a financial advisor
This data highlights the financial challenges facing workers today, particularly around retirement savings and student loan debt. Workers are increasingly looking to their employers for support in navigating these challenges, and offering financial wellness benefits can be a key differentiator in attracting and retaining talent. Employers who prioritize financial wellness benefits can help their employees build emergency savings, manage debt, and plan for a secure retirement. Access to a financial advisor is also highly desired, demonstrating the value of personalized guidance and support in navigating complex financial decisions. Overall, financial wellness benefits are becoming a crucial component of a comprehensive employee benefits package in today’s competitive job market.
